Have you ever wondered why - sometimes - poor people have such great cars outside the houses that they don't own? Drive round any council estate in the UK and you will see that it's true. Where do you think the term 'ghetto fabulous' came from?
Who are those people paying first? I had always thought that you should pay the most you can, to everyone you owe, regardless of whether you can afford it or not.
But who did that serve? Certainly not me. Was it a self esteem issue, I wonder, this notion that everyone was more deserving of my money than me?
When we talk about paying yourself first, it should be clear that when you pay yourself first, you buy assets with the proceeds, not gadgets, toys or pointless treats that lose value as soon as you look at them.
When you buy 'treats', you are just paying the supplier of that 'treat' before you, your family and your future.
You should invest your money in things that will one day put money in your pocket!
So, who do you pay first at the moment? Who are you allowing to hold your money prisoner?
This short tip is taken from the book, Money Gym: The Wealth Building Workout. It is available to buy from www.BookShaker.com, Amazon.co.uk, and all good bookshops.
